News
Pay Bargaining Stats February 2010
Inflation
Headline inflation
Retail prices index (RPI): 3.7% (January 2010)
Next release date: 23 March 2010.
Underlying inflation
Retail prices index excluding mortgage interest payments (RPIX): 4.6% (January 2010)
Next release date: 23 March 2010.
Consumer prices
Consumer prices index (CPI): 3.5% (January 2010)
Next release date: 23 March 2010.
Inflation forecasts
Q1 2010: average 3.0%; Q2 2010: average 3.4%
Next release date: 19 March 2010.
Pay Settlements
Summary
IRS headline pay measure
IRS headline measure of pay settlements for the three months ending 31 January 22010: Nil
Next release date: 19 March 2010.
Engineering and manufacturing (EEF)
Average settlements for three months ending 31 January 2010: 0.8%
Next release date: 19 March 2010.
More Detail
(IRS) Industrial Relations Service
The IRS measure of pay awards - the midpoint in the range of basic pay deals - stands at Nil in the three months to 31 January 2010, well down on the figure of 1.2% for the previous rolling quarter, according to the latest provisional analysis.
The inter quartile range stands between nil and 1.6%
(EEF) Engineering Employers Federation
Pay awards in engineering and manufacturing companies averaged 0.8% for the three months to January 2010, according to EEF, the manufacturers' organisation. This was up 0.3% on the figure for the previous rolling quarter.
Source: EEF (external website), the manufacturers' organisation, February 2010
(LRD) Labour Research Department
Latest manufacturing and service figures from the Labour Research Department (LRD) reveal that the median pay settlement level recorded on the LRD PayLine database is 1.5% for the three months to January 2010. Broken down by industry sector, the median settlement level for the service sector is 1.8%, while the manufacturing median is 1.5%.
Source: LRD PayLine Database (external website), February 2010.
